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Congress, of course, is not bound to accept the president's budget figures, but the House has the sole power to appropriate funds for spending, and it is a duty that should not be ignored.

Congress has the constitutional responsibility to control the power of the 'purse'.

There's no debt limit in the Constitution.

We owe the government taxes. We owe our creditors interest. What do these powers owe us?

To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world.

Congress is not an ATM.

We borrowed money, it helped us with bonds and what not, and the Federal Government backed it, but it was a guarantee, it was not a grant. And we not only paid it off, but we paid it off ahead of time.

Certainly, the president is expected to safeguard the Constitution by vetoing unconstitutional acts of Congress. This is especially true because many laws can only be brought before the courts in a collateral way, if at all.

Obviously no one wants to give members of Congress a lot of money, because they barely do anything, and many of them are terrible, but a Congress that is made up of rich-but-not-super-rich people is going to be more corruptible than a Congress of really rich people.

The truth is that the United States doesn't need, and shouldn't have, a debt ceiling. Every other democratic country, with the exception of Denmark, does fine without one.